Deepak Parekh-backed, multi-speciality healthcare provider in East India, Nephro Care India Limited, is planning to raise around ₹40 crore, through the initial public offering (IPO), to fund its expansion plans.
The company plans to utilise a portion of the net proceeds from the IPO, to set up a 100-bedded multispecialty hospital, called Vivacity Multi Specialty Hospital at Madhyamgram in Kolkata, West Bengal, and the remaining, for general corporate purposes. The IPO, is set to open shortly. The IPO will comprise a fresh issuance of 45.84 lakh equity shares, with a face value of ₹10 each.
The hospital will be a unit of Nephro Care India, and is proposed to include 100 inpatient beds, including a 30-bed critical care unit, having ICU, HDU, RTU, and NICU facilities. Vivacity will offer treatment services, in various disciplines such as cardiology, medical oncology, gastroenterology, gynaecology, and many others, including an advanced renal transplant unit, in East India.
In December, 2023, Nephro Care India, successfully closed the pre-IPO funding round, which saw the participation of banking veteran, and former chairman of HDFC Ltd, Deepak Parekh, Chairman of HDFC Securities, Bharat Shah, and Rajendra Agarwal, Founder, and MD, of Macleods Pharmaceuticals, among others.
Nephro Care, was founded in the year, 2014, by leading nephrologist, Pratim Sengupta, in Kolkata, with the objective of providing comprehensive medical services, for renal patients.
The company posted a revenue of ₹19.90 crore, and earned a profit of ₹3.4 crore, during the first nine months of FY24, compared to a revenue of ₹17.09 crore, with a profit of ₹1.94 crore in FY23.